BALTIMORE – Terra Firma recently announced that Dowd & Guild, based in Laguna Hills, California, and Northspec, based in Toronto, Canada, have joined the company through a partnership recapitalization. 

The principals of all three firms will remain heavily invested through this recapitalization, which allows for a joining of forces, zero management exits, and no consolidation of offices. Terra Firma reports that a new financial partner, private investment firm Goldner Hawn, will assist the companies as they forward. The combination of Terra Firma, Dowd & Guild, and Northspec will reportedly enhance the companies’ abilities to remain focused on customers’ formulary and logistical needs.

Tim Fetters, CEO of Dowd & Guild, said, “As distinct companies, Dowd & Guild, Northspec, and Terra Firma each have earned excellent market reputations through our technical focus and service-oriented approach that deliver value to our customers and suppliers. By bringing together our complementary cultures, expertise, strategies, and specialty chemical focus, we are creating a premier North American specialty chemical distribution company that collectively has over 140 years of industry experience and longevity. I am excited for the next chapter of this combined firm and the growth opportunities it brings to employees, suppliers, and customers.”

Northspec’s CEO, Noel Shahnazarian, commented, “The creation of this new partnership signifies our collective commitment to growth while preserving the market-focused specialty business model that has made each company in this partnership successful. There is a shared understanding between Terra Firma, Dowd & Guild, and Northspec on what it takes and what is required to truly be a specialty chemical distributor. We are delighted to be part of this new partnership and we look forward to further expanding our value proposition this synergy will offer the market.”

"Joining forces brings us all to the next phase of our collective evolution while simultaneously demonstrating our commitment to this industry. We made this decision carefully; recognizing how critically important it is to maintain the unique DNA that our suppliers and customers have come to depend. With Goldner Hawn, we have found the perfect partner who shares a long-term horizon and fully supports our commitment to true organic growth. This new chapter builds on the meaningful dedication all three businesses have given to our industry and at the same time secures our place in the future. We endeavor to never lose sight of the past and those who made our success possible,” said David Behan, CEO of The Terra Firma Co.

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